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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (46191)	6/9/1999 7:04:00 PM
From: Douglas V. Fant	Respond to of 95453

Slider, Spending on well-related services has already picked up IMO. Well drilling activity will pick up in Year 2000... I intend to place a complete list of well/field-related services here shortly- there are about 40 categories of goods and services! More than you would think! For example the category of "Temporary Staff". Are you aware that the big temporary Firm Manpower Inc., provides temp workers for refineries and chemicals plants throughout the US? Just an example of a Company that you would not initially think of that will benefit from the resurgence in energy prices....Manpower Inc is in the process of extending that service overseas....

To: SliderOnTheBlack who wrote (46191)	6/9/1999 7:56:00 PM
From: RBlatch	Read Replies (1) \| Respond to of 95453

Slider - What happened to your positive opinion on MEXP & PGEI? Do you still have a position in these two? Cordially, RBlatch

To: SliderOnTheBlack who wrote (46191)	6/11/1999 12:34:00 PM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

Slider, I looked at CRK and for the life of me can't understand why you like it. VERY high debt load (Long Term Debt/Equity=2.62!!, $5M a quarter just for interest), not much cash $.12/share. Last time they had positive earnings: March 98 ($.10). Expected to be unprofitable in 99 AND 2000. Most disturbing was the recent substantial selling by multiple key insiders at half today's prices. Looks like this company might go belly up, especially if interest rates rise. I don't mean to pry but am very curious as to why you like it. The 10Q indicates both revenues and costs are going the WRONG way (see below). And with interest rates going up, This looks like a great short candidate on the surface. Also from the 10Q: The Company's oil and gas sales decreased $5.8 million (23%) in the first quarter of 1999, to $19.6 million from $25.4 million in 1998's first quarter due to a 5% decrease in the Company's oil and natural gas production (on an equivalent Mcf basis) and a 19% decrease in the Company's average realized oil and natural gas prices. Other income decreased $86,000 (74%) to $30,000 in the first quarter of 1999 from $116,000 in the first quarter of 1998. The decrease is attributable to a lower level of short-term cash deposits outstanding during the quarter. ... General and administrative expenses, which is reported net of overhead reimbursements, increased $12,000 (3%) to $434,000 in the first quarter of 1999 from $422,000 in 1998's first quarter. Interest expense increased $841,000 (20%) to $5.1 million for the three months ended March 31, 1999 from $4.3 million for the three months ended March 31, 1998. The increase is primarily related to interest capitalized on unevaluated properties in 1998 of $535,000. No interest was capitalized in 1999. The remaining increase relates to a higher level of outstanding advances under the Company's bank credit facility and an increase in the average interest rate. The weighted average annual interest rate under the Company's bank credit facility increased to 7.3% in 1999's first quarter as compared to 7.1% in the first quarter of 1998. ... The Notes are unsecured obligations of the Company and guaranteed by all of the Company's principal operating subsidiaries.